Manufacturing Intelligence Statistics


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Manufacturing Intelligence Statistics 2023: Facts about Manufacturing Intelligence outlines the context of what’s happening in the tech world.

LLCBuddy editorial team did hours of research, collected all important statistics on Manufacturing Intelligence, and shared those on this page. Our editorial team proofread these to make the data as accurate as possible. We believe you don’t need to check any other resources on the web for the same. You should get everything here only 🙂

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Top Manufacturing Intelligence Statistics 2023

☰ Use “CTRL+F” to quickly find statistics. There are total 42 Manufacturing Intelligence Statistics on this page 🙂

Manufacturing Intelligence “Latest” Statistics

  • According to 360Suite’s Business Intelligence (BI) Survey, a BI adoption rate of over 80% was mainly found among companies with more than 5,000 employees.[1]
  • Microsoft Azure is crucial or extremely important to 84% of enterprises, according to a new survey on business intelligence trends.[1]
  • Business intelligence statistics show that the cloud analytics industry is growing at the quickest pace (23%).[1]
  • Business intelligence data indicate that China’s economic expansion will be reflected in the BI industry as well; the country’s BI market is anticipated to develop at a CAGR of 18.7% and reach $5.2 billion by 2027.[1]
  • Amazon Web Services comes in second with 33% critical importance and 66% of companies rating it critical or very important.[1]
  • According to data on business intelligence usage, 58% of manufacturing companies were using cloud BI products.[1]
  • Despite having more access to BI technologies, just 26% of people worldwide have adopted BI tools.[1]
  • In a survey conducted by Finances Online, 35.37% of companies said data preparation is very important, 24.15% stated it’s important, and 27.89% described it as critical for current and future initiatives.[1]
  • Business intelligence market statistics indicate that the mobile segment of the BI market is expected to grow at a CAGR of 18.9% in the forecasted period.[1]
  • 52% of software companies and 50% of finance companies use BI tools.[1]
  • According to forecasts, the market would increase with a CAGR of 8.7% and reach $43.03 billion by 2028.[1]
  • Data engineers were expected to be in demand in 2020 at a decent rate of 45%, according to Hired (2020).[2]
  • As of 2019, salaries for data engineers in the San Francisco Bay area increased by 6%, or by an average of $160,000 per year.[2]
  • In 2019, 64% of users reported that BI data and analytics helped improve their efficiency and productivity.[2]
  • Manufacturing has the greatest adoption rate of cloud BI in 2020 at 58%, followed by financial services and business services at 40%.[2]
  • According to New Vantage Partners (2020), just 37.8% of businesses report developing a data driven company, and only 26.8% believe they have successfully established a data culture.[2]
  • At a CAGR of 18.9%, the worldwide market for mobile business intelligence is projected to grow from its 2020 valuation of $8.8 billion to $29.6 billion by 2027.[2]
  • According to KPMG (2019), 46% of CIOs suffered from a skills shortage, followed by a shortage of AI skills (38%).[2]
  • About 62.5% of the 2019 business intelligence and analytics software market worldwide were controlled by the top 10 business intelligence software vendors, which had a combined revenue of almost $14.9 billion. (Apps Run the World, 2020).[2]
  • Cloud analytics is the fastest growing market sector, projected to increase at a CAGR of 23.0% from $23.2 billion in 2020 to $65.4 billion by 2025.[2]
  • With a 76% CAGR, it is expected that the worldwide business intelligence market would grow from $23.1 billion in 2020 to $33.3 billion by 2025.[2]
  • According to Allied Market Research (2020), the worldwide business intelligence and analytics software market was valued at $193.14 billion in 2019 and is predicted to reach $420.98 billion by 2027, growing at a projected CAGR of 10.9% from 2020 to 2027.[2]
  • Business intelligence adoption figures indicate that by 2021, the United States will produce $11,727 million.[3]
  • Nearly 50% of manufacturers believe that their spending for BI and analytics would increase in the next years, according to business intelligence data for 2022.[3]
  • Seven out of ten clients, according to business intelligence statistics, believe Microsoft Azure is one of the finest providers.[3]
  • Organizations in the United States lose upwards of $109 billion due to data inaccuracies, according to business intelligence statistics.[3]
  • According to business intelligence usage statistics, 89% of manufacturers with BI and analytics initiatives say they work.[3]
  • Business intelligence utilization data show that both financial and business services have a 40% share.[3]
  • Modern BI solutions are frequently used by organizations when business users want insight into dynamics that change rapidly, such as marketing events, when being quick is more important than having data that is 100% accurate.[4]
  • Poor data governance is cited by 21% of BI organizations as a serious concern for their clients.[5]
  • 34% of businesses in Canada and Mexico compared to 24% in Europe, Greenland and the U.S employ cloud BI completely or partly.[5]
  • A recent study conducted by Accenture found that only 32% of business executives were able to generate measurable value out of data.[5]
  • According to statistics on business intelligence, the market for cloud-based BI was worth $750 millions in 2013.[5]
  • In 2020, 54% of enterprises agreed that cloud-based BI was vital to their current and future initiatives.[5]
  • MnM predicts that the global Business Intelligence market will grow from $23.1 billion in 2020 to $33.3 billion by 2025 at a Compound Annual growth Rate (CAGR), of 7.6% over the forecast period.[5]
  • According to an Accenture research, just 27% of corporate leaders said their data and analytics initiatives gave them useful insights.[5]
  • Data engineers are expected to be in high demand, with demand expected to increase by 50% yearly, making this one of the fastest growing employment areas in the nation.[5]
  • According to the Accenture report, 21% of the worldwide workforce is confident in their ability to use data.[5]
  • 48% of workers experience overwhelming feelings while dealing with data at least once a week and 74% of workers experience stress or dissatisfaction while handling data.[5]
  • 93% of executives believe that data is critical to their success, only 38% are able to effectively use data analytics, according to Accenture.[5]
  • BI technologies are already used by around 50% of firms, and predictions indicate significant expansion in the next years.[6]
  • According to Bi-Survey.com (2021), 16% of BI customers believe slow query performance is a major issue and 11% of BI Vendors believe this to be an issue for their customers.[7]

Also Read

How Useful is Manufacturing Intelligence

One of the primary advantages of manufacturing intelligence is its ability to collect and analyze data from various sources within a manufacturing environment. This allows businesses to gain a comprehensive view of their operations, from production processes to supply chain management. By identifying patterns, trends, and outliers in the data, manufacturers can make informed decisions to streamline their operations and increase profitability.

For instance, imagine a large manufacturing plant that produces electronic components. By utilizing manufacturing intelligence software, the plant can track key performance indicators such as machine downtime, production rates, and quality control metrics in real-time. This data can help identify bottlenecks in the production process, allowing the plant to allocate resources more effectively and reduce waste.

Manufacturing intelligence also plays a crucial role in predictive maintenance. By analyzing historical data and monitoring equipment performance in real-time, manufacturers can predict when a machine is likely to fail and schedule maintenance proactively. This not only minimizes downtime but also helps extend the lifespan of equipment, ultimately saving businesses time and money in the long run.

Moreover, manufacturing intelligence enables manufacturers to optimize their supply chain by providing greater visibility into inventory levels, supplier performance, and demand forecasting. By analyzing data from various sources, manufacturers can identify potential disruptions in the supply chain and take proactive measures to mitigate risks. This can help reduce lead times, improve collaboration with suppliers, and ultimately enhance customer satisfaction.

In addition to operational efficiency, manufacturing intelligence can also drive innovation and competitiveness. By harnessing the power of data analytics and artificial intelligence, manufacturers can identify new market trends, customer preferences, and product opportunities. This allows businesses to adapt quickly to changing market conditions, stay ahead of competitors, and deliver products that meet the evolving needs of consumers.

However, the usefulness of manufacturing intelligence hinges on the quality of data and the ability of businesses to interpret and act upon the insights generated. Without accurate and reliable data, manufacturing intelligence can lead to misguided decisions and missed opportunities. It is therefore essential for manufacturers to invest in robust data collection and analysis tools, as well as employee training to ensure that they can effectively utilize the insights provided by manufacturing intelligence.

In conclusion, manufacturing intelligence is a powerful tool that can revolutionize the way businesses operate in today’s increasingly competitive marketplace. By harnessing the data-driven insights provided by manufacturing intelligence, manufacturers can optimize their operations, minimize risks, and drive innovation. While there are challenges to overcome, the benefits of manufacturing intelligence far outweigh the costs, making it an indispensable asset for any modern manufacturing enterprise.

Reference

  1. dataprot – https://dataprot.net/statistics/business-intelligence-statistics/
  2. financesonline – https://financesonline.com/20-essential-business-intelligence-statistics-analysis-of-trends-data-and-market-share/
  3. techjury – https://techjury.net/blog/business-intelligence-statistics/
  4. cio – https://www.cio.com/article/272364/business-intelligence-definition-and-solutions.html
  5. enterpriseappstoday – https://www.enterpriseappstoday.com/stats/business-intelligence-statistics.html
  6. tableau – https://www.tableau.com/learn/articles/business-intelligence
  7. trustradius – https://www.trustradius.com/vendor-blog/business-intelligence-statistics-and-trends

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